Rupert Murdoch tapped Wall Street Journal managing editor Robert Thomson, a close confidant with little experience on the business side of publishing, as Chief Executive of his new publishing company, which will retain the News Corp name.Thomson's appointment coincided with several other announcements related to the impending publishing company spin-off, including the closing of The Daily, the heavily-hyped digital newspaper for Apple Inc's iPad, and the naming of other key executives.News Corp did not disclose any financial details related to the spin off, such as how much cash and debt will be ascribed to the new publishing company, or appoint a board of directors.Also absent from Monday's announcement was any mention of Lachlan Murdoch, Rupert's eldest son, who News Corp watchers and industry experts thought might be recruited back into the family business, given his previous success as publisher of the New York Post.
News Corporation is a diversified global media company. Shares of NWSA fell by 0.45% or $-0.11/share to $24.53. In the past year, the shares have traded as low as $13.55 and as high as $24.04. On average, 19309000 shares of NWSA exchange hands on a given day and today's volume is recorded at 7628968.
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